CPS/Retail Base Prepaid is the Visa Interchange Rate for a card present prepaid card transaction.
Change History: Introduced October 2011
Cardholder and card present, signature obtained, single electronic authorization, merchant name, city, and state included in authorization
Read & transmit complete magnetic stripe, transaction settled within 1 day of authorization, authorization response data included in settled transaction.
Clearing amount must equal authorization amount except for the following sic codes: 4121 (Taxicabs & Limosines), 5813 (Bars & Taverns), 7230 (Barber & Beauty Shop), 7298 (Health & Beauty Spas). This is to account for tipping in these business types.